Ethereum Name Service (ENS). The token managed to regain bullish momentum, meaning that the $30 mark might be breached this month. The reason for the interest in this cryptocurrency was news that the developers proposed a network upgrade and together with it ENSv2, the purpose of which is to decrease gas fees and enhance scalability. However, investors are waiting for this to materialize, in which case users will be able to reap many benefits from this upgrade.
Uniswap (UNI). The coin demonstrated stability, moving higher amid a decline in the crypto market, implying investor confidence in the altcoin, setting it apart from the overall market trend. Growing interest reflects expectations of potential profits. Another factor underpinning the outlook for Uniswap is its integration with ZKsync. This upgrade would allow users to trade tokens and provide liquidity on ZKsync directly through Uniswap, benefiting from lower transaction costs.
Lido DAO (LDO). The rally was primarily due to technical factors. Meanwhile, the altcoin continues to trade below the 50-day and 200-day SMA, which is a bearish factor.
Toncoin (TON). Last week, the Telegram cryptocurrency retraced to its ATH above $8. The total value locked up (TVL) of the network continues to rise, supporting the value of the token.
Pendle (PENDLE). The project’s TVL has soared from $200 mln to $6.6 bln so far in 2024. The number of users of the protocol has also gone up significantly, which is a positive factor driving the value of the cryptocurrency.